Guideline Value for Rose Nagar

Rose Nagar guideline value

The current guideline value of Rose Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This street is located in Vattampakkam village under the Sunguvarchattram SRO, classified as Residential Class I Type - I.

How the guideline value of Rose Nagar has changed

Over the years, the guideline value of Rose Nagar has seen several revisions. The earliest recorded figure is from 2007, which was Rs 30 per sq.ft. This increased significantly to Rs 250 per sq.ft in 2012, marking a rise of 733%. However, in 2017, the value dropped to Rs 167 per sq.ft, a decrease of 33%. The value remained at Rs 250 per sq.ft in 2023 and continues to be the same in 2024, showing no change from the previous year.

In summary, from 2017 to 2023, there was a 50% increase, but from 2023 to 2024, the guideline value remained unchanged. The overall change from 2007 to 2024 reflects a substantial increase of 733%.

Guideline values in Vattampakkam

Vattampakkam has a total of 33 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,790 per sq.ft. The median value for these streets is Rs 250 per sq.ft, which is equal to the 2024 figure for Rose Nagar.

• Rocky Nagar: Rs 448 per sq.ft (2024)
• Rockey Garden: Rs 250 per sq.ft (2024)
• Ponniamman Kovil Street (colony): Rs 200 per sq.ft (2024)
• Shri Sheshadri Brindhavanam Phase I: Rs 500 per sq.ft (2024)
• Pillaiyar Kovil Street: Rs 200 per sq.ft (2024)
• Pethel Nagar: Rs 426 per sq.ft (2024)

Stamp duty and registration fee for property in Rose Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty, charged at 7%, would be Rs 17,500, and the registration fee at 2% would be Rs 5,000. Therefore, the total amount for stamp duty and registration fees would be Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rose Nagar?

Rose Nagar falls under the jurisdiction of the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Vattampakkam

The guideline value is a crucial factor in property transactions in Vattampakkam, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value influences the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process. This value is regularly updated, reflecting changes in the real estate market.

Frequently asked questions

What is the current guideline value of Rose Nagar?

The current guideline value of Rose Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revision in 2024 maintaining the value at Rs 250 per sq.ft. The value was Rs 167 per sq.ft in 2017, which shows a significant increase of 50% by 2023.

What is the land classification of Rose Nagar?

Rose Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Rose Nagar?

The Sub Registrar Office covering Rose Nagar is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Rose Nagar?

Stamp duty for properties in Rose Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 2,50,000 would incur a stamp duty of Rs 17,500.